Tuesday, August 13, 2013

Next Fed Chair Will Lead Us to ‘Economic Ruin,’ Says Peter Schiff

"Of all the choices, Yellen is probably the worst of the bunch," says Peter Schiff, "I think the U.S. economy is in trouble regardless of who President Obama chooses because it's going to be more of the same policies that have brought the country to the brink of economic ruin.""We're not going to get any of that so long as we have a Fed chairman that is complicit in what the government is doing to subsidize big government and excess to avoid the pain of doing the right thing," he says. "That's why the economy is suffering and why it's going to suffer so much more in the future."

Schiff is a well-known commentator appearing regularly on CNBC, TechTicker and FoxNews. He is often referred to as "Doctor Doom" because of his bearish outlook on the economy and the U.S. Dollar in particular. Peter was one of the first from within the professional investment field to call the housing market a bubble. Peter has written a book called "Crash Proof" and a follow-on called "The Little Book of Bull Moves in Bear Markets". He is the President of EuroPacific Capital, which is a brokerage specializing in finding dividend-yielding, value-based foreign stocks.

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